(if any split at all)- Is there a better way to arrange this so I can limit my cash outflow?

Is this type of arrangement the right approach for me to have asset & charging order protection for me and my properties?

Ideally, I am seeking a mentorship arrangement wherein I can seek guidance, address any knowledge gaps, and gain confidence in navigating transactions.

If the seller agrees                                   with this arrangement, the interest only payment will be                                                           $1,500/monthly or $18,000/annually, and the payments after the IO                                       will be $2,375.27 for 25 years.  

Second, get an idea of what you want (size and arrangements of units) i.e. 2/1, 1000ft2 units or 3/2, 1500ft2 units. 

An STR/MTR unit would potentially increase the value of the area as these are well taken care of to the point where they look immaculate and exceed the HOA requirements.However, the HOA is also concerned with the living arrangements and control and not just the financial benefits. - A tenant from a red eye flight through the area w/ headlights beaming looking for the place.- A ride comes up honking their horn telling the tenant to "come on". - Strangers sitting outside...starring.- Tenant making a lot of noise.

I would also say it's not too complicated to arrange if that's what you really want to do.

Another option is to arrange a weekend of showings and go there for them yourself.

You have to define the splits of profits, losses, and capital for each member at the beginning and end of the year.I'd recommend discussion your entity arrangements with both your attorney (for the assets protection aspects) and your CPA (for the tax and accounting aspects.)

I'm still in college and I lease an apartment in downtown CLE right on my school's campus so I have to stay in my particular living arrangement until at least May.